Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

CHINA BILLION RESOURCES LIMITED

中富資源有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 274)

UPDATED EXPECTED TIMETABLE OF THE CAPITAL REORGANISATION AND CHANGE IN BOARD LOT SIZE

Reference is made to the circular of China Billion Resources Limited ("Company") dated 6 December 2019 in relation to, among other things, the Capital Reorganisation ("Circular"). Capitalised terms used in this announcement have the same meaning as defined in the Circular.

The Board would like to inform Shareholders that the Company has made an application to the Grand Court for it to hear the Company's petition to seek an order of the Grand Court to confirm the Reduction of Issued Capital and a hearing date has been fixed on Thursday, 12 March 2020 (Cayman Islands time).

Assuming that the order of the Grand Court confirming the Reduction of Issued Capital is granted on Thursday, 12 March 2020 (Cayman Islands time) and all the conditions of the Capital Reorganisation as set out in the Circular are fulfilled, the Capital Reorganisation and the change in board lot size as described in the Circular will proceed in accordance with the updated expected timetable as set out below:

Event

Expected date/time

Grand Court hearing of petition to confirm the Reduction of

Thursday, 12 March 2020

Issued Capital

(Cayman Islands time)

Registration of court order confirming the Reduction of Issued

Friday, 13 March 2020

Capital and the minute of the order of the Reduction of Issued

(Cayman Islands time)

Capital with the Registrar of Companies in the Cayman Islands

Effective time and date of the Capital Reorganisation

9:00 a.m. on Monday,

16 March 2020

First day of free exchange of existing share certificates for

Monday, 16 March 2020

Existing Shares into new share certificates for Adjusted Shares

Commencement of dealings in the Adjusted Shares

9:00 a.m. on Monday,

16 March 2020

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Original counter for trading in the Existing Shares in board lots

9:00 a.m. on Monday,

of 40,000 Existing Shares (in the form of existing share

16 March 2020

certificates for Existing Shares) temporarily close

Temporary counter for trading in Adjusted Shares in board lots

9:00 a.m. on Monday,

of 2,000 Adjusted Shares (in the form of existing share

16 March 2020

certificates for Existing Shares) open

Original counter for trading in the Adjusted Shares in board

9:00 a.m. on Monday,

lots of 10,000 (in the form of new share certificates for

30 March 2020

Adjusted Shares) re-open

Parallel trading in the Adjusted Shares (in the form of new

9:00 a.m. on Monday,

share certificates for Adjusted Shares and existing share

30 March 2020

certificates for Existing Shares) commence

Odd lot matching arrangement

9:00 a.m. on Monday,

30 March 2020 to

4:10 p.m. on Tuesday,

21 April 2020

Temporary counter for trading in Adjusted Shares (in the form

4:10 p.m. on Tuesday,

of existing share certificates for Existing Shares) close

21 April 2020

Parallel trading in the Adjusted Shares (in the form of new

4:10 p.m. on Tuesday,

share certificates for Adjusted Shares and existing share

21 April 2020

certificates for Existing Shares) end

Last day of free exchange of existing share certificates for

Thursday, 23 April 2020

Existing Shares into new share certificates for Adjusted Shares

All times and dates specified in the updated expected timetable above refer to Hong Kong times and dates unless otherwise specified. Dates or time specified in the expected timetable above are indicative only and may be extended or varied by the Company. Any changes to the expected timetable will be published or notified to the Shareholders as and when appropriate.

By order of the Board of

China Billion Resources Limited

Qiao Bingya

Chairman of the Board

Hong Kong, 5 February 2020

As at the date this announcement, the Board comprises the following Directors:

Executive Directors:

Independent non-executive Directors:

Mr. Qiao Bingya (Chairman of the Board)

Mr. Cai Jianhua

Mr. Zhang Yiwen (Chief executive officer)

Mr. Ho Wing Chung

Mr. Xie Qiangming

Mr. Yan Xiaotian

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China Billion Resources Limited published this content on 05 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 February 2020 08:50:07 UTC